Several state attorney generals, including those from Florida and Connecticut, are conducting a coordinated investigation of firms’ alleged anticompetitive practices in connection with municipal bond-related guaranteed investment contracts, one company and several sources said Monday.

XL Capital, Ltd, the Bermuda-based insurer, disclosed the investigation in a 10-K financial statement filed with the Securities and Exchange Commission on Monday. The company said its subsidiaries last month received a subpoena from the Connecticut attorney general and an “antitrust civil investigative demand” from the Florida Attorney General “in connection with a coordinated multi-state attorneys general investigation into…matters referenced in…[Department of Justice] and SEC subpoenas.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.